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Thread: what the best home loan package now?

  1. #1
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    Default what the best home loan package now?

    For property under construction, what the best package now.
    SOR seem to be too volatile and tied to US$. Not too keen on that,
    I think SIBOR would be better.

    For SIBOR package, the best I found so far are HSBC (0.88 + SIBOR) and DBS (0.9+SIBOR) ? Is that the best choice ?

    welcome any feedback


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    DBS used to give best SIBOR & fixed rate packages. What are they offering now?

    Quote Originally Posted by marktkt22
    For property under construction, what the best package now.
    SOR seem to be too volatile and tied to US$. Not too keen on that,
    I think SIBOR would be better.

    For SIBOR package, the best I found so far are HSBC (0.88 + SIBOR) and DBS (0.9+SIBOR) ? Is that the best choice ?

    welcome any feedback


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    Quote Originally Posted by marktkt22
    For property under construction, what the best package now.
    SOR seem to be too volatile and tied to US$. Not too keen on that,
    I think SIBOR would be better.

    For SIBOR package, the best I found so far are HSBC (0.88 + SIBOR) and DBS (0.9+SIBOR) ? Is that the best choice ?

    welcome any feedback


    smartloans.sg

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    DBS: SIBOR +0.9
    HSBC SIBOR +0.88

    SOR is too volatile and pegged to US$ so I am avoiding it.
    I probably take up DBS since they are the one who grant my in principle approval..

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    So which development you going for?

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    Quote Originally Posted by marktkt22
    DBS: SIBOR +0.9
    HSBC SIBOR +0.88

    SOR is too volatile and pegged to US$ so I am avoiding it.
    I probably take up DBS since they are the one who grant my in principle approval..
    I actually got my with HSBC at SIBOR+0.75 for 1st 3 years, thereafter +1. Is yours +0.88 throughout?

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    Quote Originally Posted by wklibran
    I actually got my with HSBC at SIBOR+0.75 for 1st 3 years, thereafter +1. Is yours +0.88 throughout?
    Mine is with DBS, SIBOR+0.8 throughout the loan period. This was 6 months ago.

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    DBS SIBOR + 0.5, 0.75 (2-yr lock-in, BUC)

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    Citibank... i think the only bank with 1mth sibor + 0.X

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    Std Chart loan package:

    1st yr: 1.25% Fixed
    2nd yr: 0.98% + 3 mth sibor
    3rd yr 1.25 + 3 mth sibor

    I yr lock-in.

    Is it competitive?

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    SCB 1.25% package already revised up to 1.85%.

    DBS 1.25 also revised up to 2.2%.

    The rest will follow soon imo.

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    I HAVE JUST GOT IT APPROVED. SO! I AM LUCKY!

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    Quote Originally Posted by DC33_2008
    I HAVE JUST GOT IT APPROVED. SO! I AM LUCKY!
    Wow congrats 1 yr fixed at 1.25% sounds great!

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    Quote Originally Posted by mcmlxxvi
    So which development you going for?
    lilkely tembeling residence...

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    Quote Originally Posted by apple3
    smartloans.sg
    smartloan is great !!! instant result.

    i was actually using housingloansg service (free) for comparison but smartloan is even faster.

    Both arrive at same conclusion--DBS 0.9% +SIBOR, no lock in.
    I already signed up and loan approved.

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    Quote Originally Posted by emily01
    I think SIBOR would be better.
    Though if you want to check out other options and finalize then visit PropertyGuru. You can find latest SIBOR rates, mortgage quotes there, plus you can try mortgage payment calculator and refinance calculator. Visit this for more details on mortgage rates http://www.propertyguru.com.sg/mortgage
    Thanks, I am using SIBOR, from DBS. Loan approved alredi

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    All the home loan rates have gone up this month! Just checked with Stanchart and DBS

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    Quote Originally Posted by mm63
    All the home loan rates have gone up this month! Just checked with Stanchart and DBS
    So there is an error reported in yesterday papers?
    Quote Originally Posted by TODAY

    Home loans market competition hots up
    Desmond Wong
    TODAY
    Wednesday, 7 April 2010

    The home loans market is hotting up in Singapore with big lenders aggressively lowering rates to fend off competition from each other and the smaller finance houses.

    Finance companies had the lowest interest rates at the start of the year, but 3 months on, banks have also started dropping prices.

    Competition is stiff among major local banks and financiers, but DBS Bank, OCBC Bank and United Overseas Bank (UOB) have been going on the offensive with not just lower prices but additional services as well.

    SIAS Research lead analyst Moh Tse Yang said: "Some developers whom we have met have been approached by several banks to go hand-in-hand with them during their launches, to be able to set up booths there, offering special rates. So we're looking at the banks aggressively chasing the home loans."

    At the end of last year, Hong Leong Finance was offering some of the lowest rates, with first year interest rate for its public housing loan at 1.3%. But within 3 months, the banks responded.

    As at the end of last month, DBS' variable public housing home loan rate for the first year stood at 1.3%, while OCBC's rates came in at 1.26%.

    Hong Leong's current rates have also come down, standing at 1.23%. UOB declined to give their rates for the period.

    But despite the rapid lowering of rates, observers expect banks and financiers to stop short of a price war.

    Ms Christine Kuo, senior analyst (financial institutions group) at Moody's Singapore, said: "After all, the banks understand that a price war does nobody any good. So, although they will try to stay competitive, they won't be making sufficient margins if they continue to undercut."

    Lenders are currently in the process of revising their home loan interest rates for this month, analysts said.

    The expectation is that rates will be revised upwards, in light of strong continued demand from home buyers as well as on the back of outlook that interest rates may be on the uptrend going forward.

  19. #19
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    Very strange. I also heard that many of the good packages are no longer available.

    Quote Originally Posted by Reporter
    So there is an error reported in yesterday papers?

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    Quote Originally Posted by teddybear
    Very strange. I also heard that many of the good packages are no longer available.
    Yes, I think ur rite. Checking now, look rite rate is up

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    At current market, is it better to lock in or no lock in?

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    Quote Originally Posted by Laguna
    Yes, I think ur rite. Checking now, look rite rate is up
    Reports salah. Rates going up for sure.

    I've locked in 3 years with DBS at fixed rates 1.99, 2.09, 2.19.

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    This is actually higher than the previous DBS offer of 3 years fixed rate (& locked in) at flat 1.99%. Rates offered has definitely gone up (at least for DBS)! Do they still have the 5 years fixed rate package and if so what is the rate now?

    Quote Originally Posted by mcmlxxvi
    Reports salah. Rates going up for sure.

    I've locked in 3 years with DBS at fixed rates 1.99, 2.09, 2.19.

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    Quote Originally Posted by teddybear
    This is actually higher than the previous DBS offer of 3 years fixed rate (& locked in) at flat 1.99%. Rates offered has definitely gone up (at least for DBS)! Do they still have the 5 years fixed rate package and if so what is the rate now?
    Not sure about the 5-yr rates coz never plan that long. As to .10% interest rate growth YoY, that I can swallow - at least better than 1.99%, 2.99%, 3.99% (eg. only when SIBOR goes up) if floating rate packages...

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    DBS used to have the 5-years fixed rate package at 2.5% (but not highly publicized like their 3 years fixed rate of 1.99%) but it was removed quickly after. Not sure whether they introduce again.

    Quote Originally Posted by mcmlxxvi
    Not sure about the 5-yr rates coz never plan that long. As to .10% interest rate growth YoY, that I can swallow - at least better than 1.99%, 2.99%, 3.99% (eg. only when SIBOR goes up) if floating rate packages...

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    Hi,

    It is true that for BUC the banks will not offer package with fixed interest rate til TOP?

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    Quote Originally Posted by Chamonique
    Hi,

    It is true that for BUC the banks will not offer package with fixed interest rate til TOP?
    Yes for DBS

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    HSBC is offering Sibor + 0.85% no lock in and UOB is offering SOR + 0.% with 3 years lock in. Still deciding. Anyone has any comment on these loan package? Currently 3 months Sirbor is 0.65% and SOR is 0.46%

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    Quote Originally Posted by Chamonique
    HSBC is offering Sibor + 0.85% no lock in and UOB is offering SOR + 0.% with 3 years lock in. Still deciding. Anyone has any comment on these loan package? Currently 3 months Sirbor is 0.65% and SOR is 0.46%
    You should compare SIBOR and SOR not just now but the trend since 2007. SOR is more erratic compared to SIBOR.

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    Quote Originally Posted by Chamonique
    HSBC is offering Sibor + 0.85% no lock in and UOB is offering SOR + 0.% with 3 years lock in. Still deciding. Anyone has any comment on these loan package? Currently 3 months Sirbor is 0.65% and SOR is 0.46%
    Are you kidding ? Of course the SOR + 0 lah! This is for Dakota UOL project right ? no other project can UOB do SOR + 0. This is really a cash rebate in disguise for you. If u dun take it, UOL will be laughing all the way.

    today SOR fixing is 0.308. Yesterday after MAS S$ statement SOR tumbled to 0.38. Now US$ becomes a carry trade ccy.

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